[146 Pages Report] The automatic lubrication system market was valued at USD 743.3 million in 2017 and is projected to reach USD 958.5 million by 2023, at a CAGR of 4.5% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.

Growing awareness regarding the advantages of using automatic lubrication systems is contributing to the growth of the automatic lubrication system market. Manufacturing companies around the world are slowly moving from manual lubrication practices to more efficient automatic lubrication operations. This shift from manual to automatic lubrication is acting as a growth driver for the automatic lubrication system market. Asia Pacific constitutes some of the largest and fastest-growing economies such as China, Japan, and India in the world. Huge domestic demand for products and services and significant business growth opportunities have led to the establishment of the manufacturing units of various industries, such as cement, steel, and energy, in the region. This offers an attractive opportunity for the automatic lubrication system market growth in APAC.

The objective of the report is to provide a detailed analysis of the automatic lubrication system market based on lubrication type, system type, industry, and region. The report provides detailed information regarding the major factors influencing the growth of the automatic lubrication system market. The report also gives a detailed overview of the automatic lubrication system value chain and analyzes market trends.

The research methodology used to estimate and forecast the automatic lubrication system market begins with capturing data on current and expected adoption of automatic lubrication systems using secondary sources such as the Union of the European Lubricants Industry (UEIL), Society of Tribologists and Lubrication Engineers (STLE), National Lubricating Grease Institute (NLGI), press releases, investor relation presentations, and annual reports. Vendor offerings have also been considered to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the automatic lubrication system market by considering the installation of automatic lubrication systems in various industries. After arriving at the overall market size, the overall market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries is depicted in the figure below:

The automatic lubrication system market is expected to grow from USD 769.4 million in 2018 to USD 958.5 million by 2023, at a CAGR of 4.5% between 2018 and 2023. Key factors driving the growth of the automatic lubrication system market include reduction in machine downtime associated with manual lubrication, effective lubrication with automatic lubrication systems, increasing focus on worker safety, and rising labor costs.

Grease-based lubrication system held a larger share of the automatic lubrication system market in 2017. Grease-based lubrication systems are mostly preferred in those applications where a machine requires a cold start. In oil-lubricated machines, oil is drained from the surface of machine components, making it prone to increased friction during a cold start. However, grease remains on the surface of machine components and provides necessary lubrication during the start. Grease-based lubricants are ideal for heavy-duty applications in industries such as manufacturing, agriculture, transportation, mining, construction, and power. The rugged nature of grease-based lubricants also makes them ideal for harsh working conditions, making them the preferred choice for most machines and equipment.

The market for multi-line lubrication system is expected to grow at the highest CAGR during the forecast period. Multi-line lubrication systems are designed for heavy-duty and continuous operations. In multi-line lubrication systems, the lubricant is delivered from the pumping unit to lubrication points without the help of any external metering device. Multi-line lubrication systems are suitable for a variety of lubricants with broad viscosity range. These systems have the ability to lubricate multiple points at the same time, can perform lubrication without the help of metering device, and have simple design.

The steel industry held the largest share of the automatic lubrication system market in 2017. Rapid industrialization and infrastructure modernization in emerging economies such as China, India, Brazil, Indonesia, and Thailand have resulted in increased demand for steel. Steel manufacturing companies constantly face the challenge of producing steel with high precision, quality, and reliability. Increasing demand for high-quality steel has prompted steel companies to use advanced automated machinery and equipment in their plants. Companies are using automatic lubrication systems in steel plants to properly lubricate plant machinery so that it can withstand the harsh operating environment.

Europe held the largest share of the automatic lubrication system market in 2017. Leading industries such as automotive, mining, steel, electronics manufacturing, and agriculture have been flourishing in the European region for the past few decades. Need for more efficient output has encouraged the European industrial ecosystem to embrace automation and digitization. Increasing necessity to adopt efficient machinery and equipment, and maintenance practices has made Europe a huge market for automatic lubrication systems. Furthermore, factors such as highly automated manufacturing industries, stringent environmental regulations related to the transportation industry, and increasing need to reduce maintenance costs are driving the growth of the automatic lubrication system market in Europe.

SKF (Sweden), Graco (US), BAIER + KOEPPEL (Germany), Timken (US), and Bijur Delimon (US) are the top electric automatic lubrication system manufacturing companies. These players focus on product launches and developments, expansions, acquisitions, and contracts to enhance their product and service offerings, and expand their business globally.

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Figure 1 Automatic Lubrication System Market SegmentationFigure 2 Automatic Lubrication System Market: Research DesignFigure 3 Bottom-Up Approach to Arrive at Market SizeFigure 4 Top-Down Approach to Arrive at Market SizeFigure 5 Data TriangulationFigure 6 Assumptions for Research StudyFigure 7 Automatic Lubrication System Market SegmentationFigure 8 Grease-Based Lubrication System to Hold Larger Size of Automatic Lubrication System Market Between 2018 and 2023Figure 9 Multi-Line Automatic Lubrication System to Grow at Highest CAGR Between 2018 and 2023Figure 10 Steel to Lead Automatic Lubrication System Market in Terms of Market Size in 2018Figure 11 Europe to Hold Largest Share of Automatic Lubrication System Market in 2018Figure 12 Attractive Opportunities for Automatic Lubrication System Market Growth Between 2018 and 2023Figure 13 Oil-Based Lubrication System to Grow at Higher CAGR Between 2018 and 2023Figure 14 Single-Line Automatic Lubrication System to Hold Largest Market Size During 20182023Figure 15 Steel to Hold Largest Share of Automatic Lubrication System Market in 2018Figure 16 US to Hold Largest Share of Automatic Lubrication System Market in 2018Figure 17 Droc: Automatic Lubrication System Market (2018)Figure 18 Major Value Added During Manufacturing and Assembly StageFigure 19 Automatic Lubrication System Market Segmentation, By Lubrication TypeFigure 20 Grease-Based Lubrication System to Lead Automatic Lubrication System Market in Terms of Market Size Between 2018 and 2023Figure 21 Steel to Lead Grease-Based Lubrication System Market in Terms of Market Size During Forecast PeriodFigure 22 Grease-Based Lubrication System Market for Paper & Printing to Grow at Highest CAGR in Europe During Forecast PeriodFigure 23 APAC to Lead Grease-Based Lubrication System Market for Agriculture Between 2018 and 2023Figure 24 North America to Lead Oil-Based Lubrication System Market for Manufacturing in Terms of Market Size Between 2018 and 2023Figure 25 Oil-Based Lubrication System Market for Transportation to Grow at Highest CAGR in APAC During Forecast PeriodFigure 26 Automatic Lubrication System ComponentsFigure 27 Automatic Lubrication System Market Segmentation, By System TypeFigure 28 Single-Line Lubrication System to Lead Automatic Lubrication System Market in Terms of Market Size During Forecast PeriodFigure 29 Multi-Line Lubrication System Market to Grow at Highest CAGR in APAC Between 2018 and 2023Figure 30 Europe to Lead Circulating Oil Lubrication System Market in Terms of Market Size in 2018Figure 31 Automatic Lubrication System Market Segmentation, By IndustryFigure 32 Europe to Lead Automatic Lubrication System Market for Steel in Terms of Market Size Between 2018 and 2023Figure 33 Oil-Based Lubrication System Market for Cement to Grow at Higher CAGR During Forecast PeriodFigure 34 Europe to Lead Automatic Lubrication System Market for Paper & Printing Between 2018 and 2023Figure 35 Oil-Based Lubrication System Market for Transportation to Grow at Higher CAGR During Forecast PeriodFigure 36 Grease-Based Lubrication System to Lead The Overall Market for Agriculture Industry in Terms of Market Size During Forecast PeriodFigure 37 Automatic Lubrication System Market for Mining to Grow at Highest CAGR in APAC Between 2018 and 2023Figure 38 Automatic Lubrication System Market to Grow at Highest CAGR in India During Forecast PeriodFigure 39 Europe to Lead Automatic Lubrication System Market in Terms of Market Size Between 2018 and 2023Figure 40 Automatic Lubrication System Market Snapshot: North AmericaFigure 41 Oil-Based Lubrication System Market in North America to Grow at Higher CAGR Between 2018 and 2023Figure 42 Automatic Lubrication System Market Snapshot: EuropeFigure 43 Automatic Lubrication System Market to Grow at Highest CAGR in UK During Forecast PeriodFigure 44 Automatic Lubrication System Market Snapshot: APACFigure 45 Grease-Based Lubrication System to Lead Automatic Lubrication System Market in APAC in Terms of Market Size Between 2018 and 2023Figure 46 Automatic Lubrication System Market in RoWFigure 47 Automatic Lubrication System Market to Grow at Highest CAGR in Middle East During Forecast PeriodFigure 48 Key Players in Automatic Lubrication System Market Adopted Product Launch as Key Growth Strategy Between 2016 and 2018Figure 49 Market Evolution Framework: Product Launches Fueled Automatic Lubrication System Market Growth During 20162018Figure 50 Product Launch  Key Strategy Adopted Between 2016 and 2018Figure 51 SKF: Company SnapshotFigure 52 Graco: Company SnapshotFigure 53 Timken: Company Snapshot

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Growth opportunities and latent adjacency in Automatic Lubrication System Market